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France's Safran posts higher first-half profit
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France's Safran posts higher first-half profit
Jul 30, 2024 11:33 PM

PARIS, July 31 (Reuters) - Jet engine and equipment

maker Safran reaffirmed financial targets as it posted

higher first-half profit on Wednesday, led by growth in the

demand for spares and maintenance for existing aircraft and an

end to losses in aircraft interiors.

The French aerospace company said recurring operating income

rose 41% in the first half to 1.974 billion euros ($2.14

billion) as sales rose 19% to 13.047 billion euros.

Safran expressed confidence in its ability to reach 2024

financial targets, especially at the operating level, but

joined U.S. partner GE Aerospace in trimming the outlook

for growth in LEAP jet engine deliveries to between zero and 5%

from a previous target of 10%-15% amid supply chain problems.

Safran and GE Aerospace jointly own CFM International, the

world's largest jet engine maker by volume, whose engines power

all Boeing 737s and about half of the competing Airbus

A320 family.

($1 = 0.9239 euros)

(Reporting by Tim Hepher; Editing by Mrigank Dhaniwala)

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